Trade sale
Japan's Net Marketing is sold four months after take-private
Net Marketing, a Japanese online advertising and media management business that was delisted following the completion of a successful tender offer by Bain Capital last September, has been acquired by Tokyo-listed marketing analytics player Macbee Planet.
Bain exits India maritime logistics business to German strategic
Bain Capital has sold its stake in J.M. Baxi Ports & Logistics, an India-based provider of maritime logistics, to Germany-headquartered shipping and container transportation company Hapag-Lloyd for an undisclosed sum.
Asia PE investment declines 40% in 2022
Asia private equity investment reached USD 223.9bn in 2023, a sharp decline from the USD 376.4bn recorded a year earlier, but still the second-largest annual total on record, according to provisional data from AVCJ Research.
TR exits last China asset acquired through Cassia restructuring
TR Capital has sold China-focused luxury streetwear brand Evisu United – one of two assets it acquired through fund restructuring for Cassia Investments – through a sale to an unnamed financial sponsor. The size of the deal was not disclosed.
Asia GPs see reversion to norm on deal flow, valuations
Asia-focused buyout managers pointed to a return to a version of normality – with an anticipated upturn in investment and exits – in 2023 at the Hong Kong Venture Capital & Private Equity Association’s (HKVCA) Asia forum.
4Q analysis: Who wants China?
Pan-regional GPs get traction by highlighting their Asia ex-China credentials; buyouts rebound as growth capital – and China – continue to recede; India impresses with bumper exit proceeds
Southeast Asia, China GPs bullish on exits in 2023
Investors targeting Southeast Asia and China told the Hong Kong Venture Capital & Privat Equity Association's (HKVCA) Asia forum that they were encouraged by liquidity events in 2022 and expect to see more exit opportunities this year.
MBK buys Korea dental scanning player Medit, Unison exits
MBK Partners has agreed to buy Medit, a South Korea-based manufacturer of 3D dental scanners, for a valuation of approximately KRW 2.4trn (USD 1.88bn). The transaction facilitates an exit for Unison Capital’s Korea business.
NSSK exits Japan nursing care provider to Ricoh Leasing
Japan-based mid-market private equity firm NSSK has exited nursing care provider Welfare Suzuran to Ricoh Leasing, a Tokyo-listed leasing and finance company, for an undisclosed sum.
KKR buys Japan's Bushu Pharmaceuticals from BPEA EQT
KKR has agreed to buy Japan-based contract drug manufacturer Bushu Pharmaceuticals from BPEA EQT – formerly Baring Private Equity Asia – for an undisclosed sum.
2023 preview: Exits
IPOs and trade sales have been muted in 2022, but industry participants expect strategic investors to be more active in Asia next year, especially as valuations moderate. Increased secondary deal flow is also likely
2023 preview: India PE
India’s domestic growth story appears unobstructed, but some international investors could hold their fire. The local PE industry will not graduate to the next level without that foreign capital
2023 preview: Australia PE
Market pressures on Australian businesses, including an increasingly serious labour shortage, are a challenge and opportunity for domestic private equity. So is China, but in less discernible ways
2022 in review: End of the party?
Fundraising favours the few; deployment becomes progressively slower as investors agonise about valuations, macro prospects, and financing costs; sponsor-to-sponsor deals prop up exits
BPEA EQT cancels purchase of Korea's PI Advanced Materials
BPEA EQT – formerly Baring Private Equity Asia – has pulled out of its planned acquisition of a majority stake in Korea-based industrial films producer PI Advanced Materials from Glenwood Private Equity.
KKR-backed EQuest buys Vietnam school operator
EQuest Education, a Vietnam-based operator of bilingual schools backed by KKR, has acquired a controlling interest in industry peer Khoi Nguyen Education Group (KNE).
Carlyle sells Japanese snacks maker to D Capital
The Carlyle Group has exited its 100% stake in Japanese snack maker Oyatsu Company for an undisclosed sum to D Capital after a more than eight-year hold.
TPG exits Sri Lanka's Union Bank of Colombo
TPG Capital has agreed to exit Union Bank of Colombo (UBC), a Sri Lanka-based lender it has held since 2014, to a Singapore-registered company of unspecified ownership.
Chinese investors sell international assets of condom maker LifeStyles
A Chinese investor group featuring several private equity firms has sold the non-China assets of LifeStyles Healthcare, a global sexual health and wellness platform best known for the Lifestyles condom brand, to US-based Linden Capital Partners.
Deal focus: LionRock finishes polishing Clarks
LionRock Capital is exiting Clarks to its majority partner, Li Ning-owned and Hong Kong-listed Viva China, having helped the struggling British shoe brand survive the pandemic
Deal focus: IFM secures debut long-term capital deal
Targeting PRP Diagnostic Imaging through its long-hold fund meant IFM Investors could offer the company stability and partnership. It expects to generate dividend yield and capital growth
China's CMC trims stake in City Football Group
China-based CMC Capital has exited the bulk of its remaining stake in City Football Group (CFG), a series of football clubs built around the Manchester City brand, with CMC founder Ruigang Li vacating his seat on the company’s board.
Hong Kong's LionRock exits UK shoe brand Clarks
LionRock Capital, an Asian private equity firm that invests in global consumer brands with a China growth angle, has agreed to sell its stake in British shoe brand Clarks to Viva China, a holding company controlled by Li Ning, founder of the eponymous...
Brookfield buys Hong Kong's Trimco from Affinity - update
Affinity Equity Partners has sold Hong Kong-headquartered garment label manufacturer Trimco Group to Brookfield Asset Management, for an enterprise value of USD 850m.
